SCHEDULE 13G/A: BlackRock Discloses 7.8% Passive Stake in ConnectOne Bancorp

BlackRock, Inc. has filed an amended Schedule 13G, reporting a 7.8% passive beneficial ownership stake in ConnectOne Bancorp Inc. as of March 31, 2025.

Summary

• BlackRock, Inc. filed an Amendment No. 10 to Schedule 13G regarding its beneficial ownership in CONNECTONE BANCORP INC.
• As of March 31, 2025, BlackRock, Inc. beneficially owned an aggregate of 2,990,894 shares of Common Stock.
• This ownership represents 7.8% of the total outstanding Common Stock of ConnectOne Bancorp Inc.
• BlackRock holds sole voting power over 2,916,998 shares and sole dispositive power over 2,990,894 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• Various BlackRock subsidiaries, including BlackRock Advisors, LLC and BlackRock Investment Management (UK) Limited, are identified as having acquired the security.

Sentiment

Score: 6

Explanation: The document is a neutral, factual disclosure of passive ownership. The presence of a large institutional investor like BlackRock can be seen as a positive signal of confidence, but the filing itself contains no new operational or financial news from the issuer.

Positives

• BlackRock's significant stake (7.8%) indicates confidence in ConnectOne Bancorp Inc. as a long-term investment.
• The passive nature of the investment, as indicated by the Schedule 13G filing, suggests BlackRock is not seeking to influence management or control, which can be viewed positively by current management and other passive investors.

Future Outlook

This filing is a disclosure of current ownership and does not contain forward-looking statements or guidance from ConnectOne Bancorp Inc. or BlackRock regarding future performance or strategy.

Management Comments

• The filing includes a certification by Spencer Fleming, Managing Director of BlackRock, Inc., stating that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Industry Context

This filing reflects a routine disclosure by a major institutional investor, BlackRock, in a regional banking institution, ConnectOne Bancorp. Such disclosures are common for large asset managers who hold significant, passive stakes across various sectors, including financial services. It indicates BlackRock's continued investment in the banking sector.

Comparison to Industry Standards

• This document is a standard Schedule 13G filing, which is a regulatory requirement for passive investors holding over 5% of a company's stock.
• BlackRock, as one of the world's largest asset managers, routinely files such disclosures across numerous companies globally, including other regional banks.
• For example, BlackRock also holds significant passive stakes in other financial institutions like JPMorgan Chase & Co. (e.g., ~7-8% in recent filings) or Bank of America Corp. (e.g., ~7-8% in recent filings), demonstrating a consistent strategy of passive, diversified ownership across the financial sector.
• The 7.8% stake in ConnectOne Bancorp Inc. is consistent with the typical passive ownership percentages seen from large institutional investors in publicly traded companies.

Stakeholder Impact

• Shareholders: The disclosure of BlackRock's significant passive stake may provide a degree of confidence to other shareholders, indicating a major institutional investor's long-term interest in the company.

Key Dates

Keywords

BlackRock, ConnectOne Bancorp, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Financial Services, Banking, Investment Management